Subhadip's Feed
Dec 20, 2013

Rupee snaps three days of losses on strong foreign fund flows

MUMBAI (Reuters) – The rupee rose on Friday, mirroring strong stock market gains, ending a week in which it rose 0.1 percent, despite the Federal Reserve beginning its much awaited stimulus tapering.

The currency’s relatively stable performance even as the U.S. announced tapering showed India’s better preparedness to deal with any fallout of such foreign fund outflows.

Dec 19, 2013

Chidambaram, markets take Fed tapering in stride

NEW DELHI/MUMBAI (Reuters) – India is better prepared than it was months ago to deal with the Federal Reserve’s reduction of its monetary stimulus, Finance Minister P. Chidambaram said on Thursday, as the rupee fell only slightly in the wake of the once much-feared decision.

Surging currency reserves and the fall in the current account deficit have reassured investors about India’s vulnerability to a Fed “taper”, analysts said, after fears about it sent the rupee to a record low in late August.

Dec 19, 2013

Indian fin min, markets take Fed tapering in stride

NEW DELHI/MUMBAI, Dec 19 (Reuters) – India is better
prepared than it was months ago to deal with the Federal
Reserve’s reduction of its monetary stimulus, Finance Minister
P. Chidambaram said on Thursday, as the rupee fell only slightly
in the wake of the once much-feared decision.

Surging currency reserves and the fall in the current
account deficit have reassured investors about India’s
vulnerability to a Fed “taper”, analysts said, after fears about
it sent the rupee to a record low in late August.

Dec 17, 2013

Rupee falls ahead of RBI rate move, Fed taper call

MUMBAI (Reuters) – The rupee fell on Tuesday with traders awaiting the outcome of the Reserve Bank of India’s policy review as well as the Federal Reserve’s decision on tapering monetary stimulus.

The RBI is widely expected to raise its key repo rate by 25 basis points to 8.00 percent on Wednesday, its third such hike in four months after recent data showed both wholesale and retail inflation at multi-month highs.

Dec 16, 2013

Rupee gains on inflows; high inflation cements rate hike view

MUMBAI (Reuters) – The rupee gained on Monday, snapping three days of losses on inflows tied to dollar sales from foreign banks and corporates, even as high wholesale prices virtually sealed the case for a rate hike on Wednesday.

Headline inflation hit a 14-month high in November, as food prices surged, government data showed, and comes on the back of a sharp surge in retail inflation.

Dec 13, 2013

Rate hike bets rise; inflation surge hits rupee, bonds

MUMBAI (Reuters) – The rupee fell and bond yields surged on Friday after retail inflation spiked to its highest on record, raising expectations of another rate hike by the RBI and adding to the woes of the embattled government.

Reserve Bank of India chief Raghuram Rajan said on Thursday that he was “very uncomfortable” with the inflation reading, a comment that likely seals the case for him to deliver his third rate increase next Wednesday, despite a weak economy.

Dec 13, 2013

Prospect of rate hike after inflation surge hits Indian rupee, bonds

MUMBAI, Dec 13 (Reuters) – The Indian rupee fell and bond
yields surged on Friday after retail inflation spiked to its
highest on record, raising expectations of another rate hike by
the central bank and adding to the woes of the embattled
government.

Reserve Bank of India chief Raghuram Rajan said on Thursday
that he was “very uncomfortable” with the inflation reading, a
comment that likely seals the case for him to deliver his third
rate increase next Wednesday, despite a weak economy.

Dec 11, 2013

Rupee snaps five days of gains; export growth slows

MUMBAI (Reuters) – The rupee fell on Wednesday, snapping a five-session winning streak, as the pace of exports last month slowed, raising some concerns about the economy despite a trade deficit that narrowed after gold and silver imports slumped.

The country’s merchandise deficit narrowed to $9.2 billion in November, but exports growth eased to 5.9 percent from 13.5 percent in October, government data showed.

Dec 11, 2013

India rupee snaps five days of gains; export growth slows

MUMBAI, Dec 11 (Reuters) – The Indian rupee fell on
Wednesday, snapping a five-session winning streak, as the pace
of exports last month slowed, raising some concerns about the
economy despite a trade deficit that narrowed after gold and
silver imports slumped.

The country’s merchandise deficit narrowed to $9.2 billion
in November, but exports growth eased to 5.9 percent from 13.5
percent in October, government data showed.

Dec 6, 2013

Rupee gains ahead of poll results, U.S. jobs data

MUMBAI (Reuters) – The rupee rose on Friday, notching up a third week of gains, while U.S. nonfarm payrolls data and state poll results are expected to determine whether the currency would sustain its recent winning run.

The outcome of the state elections is due on Sunday and if exit polls are any indicator, the main opposition Bharatiya Janata Party is likely to win most of the states.